Odisha Govt Likely To Frame New Industrial Policy With More Incentives For Investors

Bhubaneswar: In order to attract investors, the state government is planning a new and progressive industrial policy to replace the present one that was revised in 2015.

The new policy, which is at discussion level, will be drawn up after reviewing the policies and incentives of other states which have revised their policies with new incentives for the investors. The new industrial policy is likely to be announced before the third edition of Make in Odisha meet, said sources.

The government is expected to revise its incentives in power and water supply besides tax relief for non-mineral industries. Easy availability of land through land bank and ready-to-operate infrastructure in industrial clusters like PCPIR in Paradip, steel hub in Kalinganagar, aluminium park in Angul, food park in Khurda, and textile park in Bhadrak will be highlights of the new policy, the sources said.

Besides giving thrust on MSME sector and start-ups, the policy is expected to draw up three new sector-specific policies on BPO, state data, IT and electronics, the sources said.

According to official sources, the state has received 286 business intents worth Rs 6.26 lakh crore in the last five years.